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What is the highest limit you have on your credit card?
So, I did a dumb thing. I canceled a credit card. It was my only credit card, and it lowered my score from 780 to 718. I have since found out that it is because they measure the amount of credit you are not using, to factor in to your score.
I don’t really plan on using the card… ever. I have my AMEX charge card for that. I love them, they are great, but it apparently doesn’t help my credit to have one, because it does not have a limit… FICO takes whatever the highest my monthly bill was in the past 24 months and calls it my credit limit.
I bank with USAA, and I was thinking of using one of their cards, possibly the USAA Platinum because it appears to have a low APR, and it would be nice to have a single place to go.
However, I was also looking at discover, and Chase Sapphire. Again… I don’t really plan on using it, I just want a high credit limit. What I do use, I pay in full every month.
The credit card I just closed had a 3k limit, and I haven’t used it in 4 years. I closed it because that credit union upset me greatly over something else.
Anyway… my questions:
Which of your credit cards has the highest limit, and what is it?
What is your FICO score?
I make an above average income, and I am very responsible with my money. My only reason for getting a credit card is to raise my FICO score and hopefully get it over 800 so I can get the best interest rates on big ticket items. (car, house)
Let me know your thoughts.
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